Symphony Holdings' (HKG:1223) unit China Rise has entered into new margin financing agreements on with its shareholders and executive directors as the previous agreements expire on Dec. 31, according to its Monday filing.
These agreements grant Cheng (with GCL), Lee, and Fung margin loans of up to HK$15,000,000, HK$15,000,000, and HK$10,000,000, respectively, for a three-year term from Jan. 1, 2025, to Dec. 31, 2027.
Cheng, who holds approximately 43.74% of the company's shares, along with Lee and Fung, are considered connected persons under Chapter 14A of the Listing Rules, making these agreements continuing connected transactions.
Cheng, an executive director of the company, is the sole shareholder and director of GCL, an investment holding company incorporated in the British Virgin Islands while Lee, Cheng's brother-in-law, and Fung are also executive directors.
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